May 4, 2006

WHAT'S NEXT SUBSIDIES FOR CAVIAR AND CHAMPAIGN?The Common Demoninator objects to the way public financing for housing is doled out.

"Many Washingtonians across the economic spectrum are beginning to question -- with good reason -- the definition of "affordable" being used in some proposals. Draping new projects in altruistic language about building "diverse" communities and helping residents with "special needs" may be merely disguising a scheme that continues to shovel millions of tax dollars into the pockets of wealthy developers, who have plans to build even more luxury housing with taxpayers' financial help."

An end to "providing public financing and other forms of government assistance, including tax breaks, for housing developments that include expensive, luxury units."

Lowering the residential property "tax rate substantially to provide relief to homeowners who have suffered, in part, from government-driven inflation in the local housing market."

While DC Bubble sympathizes with the desire to keep DC ... well ... cheap, the wish flies in the face of reality. Its not that luxury housing is being marketed as affordable, it's that housing has become so expensive that what once was luxury is now merely affordable. In other words, DC now is expensive. So expensive in fact that many long-term residents arhavingng trouble just treading water. Maybe that means these people should move because they cant afford to live where they want to. I cant afford Kalorama, nor G'town. That's life.

Furthermore, more rent control leads to shabby housing ansubstantialll lower property taxes will lead DC down the road tfinancialal ruin.

Sorry ComDom turning back the clock is not the answer maybe some fresh thinking is needed. What do you think of idea #3?